Wind Power Wind Power Energia Wiatrowa Energia Wiatrowa in Poland in Poland w Polsce w Polsce 2010

ISSN 1643-4692 Wind Power in Poland 2010 Table of Contents

Wind energy market in Poland and its prospects to 2020 ...... 4

Map of Wind Farms in Poland ...... 8

Publisher: Financing options for wind projects in Poland ...... 9 BiznesPolska Media sp. z o.o. tel.: 022 651 9855; fax: 022 842 0021 ul. św. Bonifacego 92 lok. 13; New legislation triggers changes for wind energy developers...... 10 02-920 Warsaw

Research: Magdalena Adamczyk Wind Energy Developers in Poland...... 12 [email protected]

Advertising: Agnieszka Sawka Wind Sector – News Briefs...... 23 [email protected]

President: Thom Barnhardt [email protected]

Design and layout: Sławomir Parfianowicz, [email protected]

Druk: Miller Druk

Ecovation Energy The Power to Deliver International Wind Energy Consultancy Company contact us: Renaissance Business Centre, ul. św. Mikołaja 7, 50-125 Wrocław tel +48 (0) 71 712 42 60 e-mail: [email protected] www.ecovationenergy.com Wind Power in Poland Business Directory 2010 Wind energy market and

Katarzyna Michał owska-Knap, in 2009 wind energ y ac counted f or just strong leader in Poland with a 29% market Paweł Regulski, Grzegorz W iśniewski 0,6% of the total electricity consumption in share, though the significance of other sup- Institute for Renewable Energy (IEO) Poland - with only 0,1% of its technical po- pliers is increasing steadily. There are espe- tential utilized. cially big opportunities for manufacturers According to URE data at the end of 2007, In 2009 the following major wind farms offering wind turbines f or lower wind around 724 MW of wind power capacity were successfully developed: K arlino (69 speeds. was installed in P oland. T he pr oduction MW installed by I berdrola), K amień (32 In addition to the abovementioned proj- amounted to 836 GWh of electricity. Most MW), Łęki Dukielskie (32 MW installed by ects, which comprise around 2MW W TGs, of the capacity is installed in the 30 biggest Martifer), Sławno (50 MW by R P Global), also projects using smaller units c oming

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Fig. 1: Installed capacity and wind energy production in Poland in 2001-2009.

wind farms located mainly in the northern Jeleniewo (41 MW by RWE). At the end of mainly from repowering are quite popular part of P oland. Sinc e 2005 the shar e of the y ear also the first 22 MW sta ge of in Poland. Small and locally -owned enter- wind energy in the total energy production EDP’s Margonin wind far m offici ally prises or private individuals are usually op- from Rene wable Energ y Sour ces has in- started producing electricity. (see Fig 1) erators in such cases; however , these creased steadily - in 2007 it was over 9% Poland is becoming a promising market projects do not c onstitute a sig nificant (472 GW h) and in 2009 mor e than 13%. for all the major wind turbine manufactur- share of the electr icity produced by wind Despite the fast development of the sector, ers. At the end of 2009 Vestas still was the turbines in Poland. 2010 Business Directory Wind Power in Poland in Poland its prospects to 2020

Albeit from a very low base, the average annual g rowth rate of power capacity of wind energy was ver y high in 2000-2009. The rate of growth, however, was er ratic, depending on various and difficult-to-pre- dict factors. Therefore, despite the high growth rate and relatively large amount of newly-built installations, existing power capacities of wind energy are not impressive in compar- ison with the overall dynamic development of the wind power industr y in the EU . Poland was one of the f ew c ountries in which capacity installations in 2009 wer e actually lower than in 2008. The year 2010, however, will be a y ear of sig nificant in- creases in capacity, as man y investments uncompleted during 2009 come to market. The amount of c ompleted pr ojects in Poland appears to be very low when c om- 5 pared with the ambitious plans of wind de- velopers. According to application for grid connection terms, grid operators estimate investors plans at mor e than 70,000 MW. However this type of estimation is de fi- nitely confusing - it’s enough to mention that in 2004 nearly 9,500 MW was “planned”, but less than 10% was finalized. Thus the information coming from devel- opers has t o be tr eated with a “ grain of salt”, as the actual pr ojects completed will be much smaller in the next few years. According to estimations of the Institute for Renewable Energy less than 10% of con- Fig. 2: Market shares of wind turbine suppliers in Poland at the end of 2009.

Wind Farm Civils

International Wind Farms Civil Contractor contact us: Renaissance Business Centre, ul. św. Mikołaja 7, 50-125 Wrocław tel +48 (0) 717 124 404 e-mail: [email protected] www.windfarmcivils.com Wind Power in Poland Business Directory 2010

Fig. 3 Increase of power capacity of wind power plants in Poland by 2020 Source: prepared by IEO and PWEA

sidered pr ojects ma y be c ompleted until issuing connection terms - and is not r e- (POIiS), which will be available from 2013, 2015, the rest should be treated only as un- fundable. This regulatory solution aims to with disposal of €352 million in total for in- developed concepts. In many cases a devel- remove speculative pr actices that ha ve vestments in pr oduction of g reen power. 6 oper obtains only pr operty rights to the blocked g rid access; however the amend- Subsidies, which can be ob tained this way, ground. Nevertheless, data from operators ments have already been cr iticized by in- would considerably improve profitability of quite clearly shows the large scale of activi- vestors and industr ial organiz ations as projects. However first tender has been an- ties and interest in Poland - over 100 enti- potentially inefficient, nounced with delay and closed in last April ties ar e actively oper ating on the P olish Also numerous other bar riers for wind (POIiS topic 9.4) proved, that demands for wind energ y market and the amount of power development are reported by devel- subsidies significantly exceed financial ca- project concepts can be estimat ed at 500. opers. The large amounts of wind farm con- pabilities of the Pr ogramme. Among 120 The majority of these companies adopt an cepts in some areas raise misgivings about applications concerning renewable energy “operations” model, which is known on the the possible ne gative impact on the en vi- (3150 million PLN was applied f or; but German market as “develop and sel”l - the ronment, as well as ammunition to local op- available sum was 742 million PLN), 86 project is developed to a certain stage (usu- ponents. W ind energ y has been usually projects concerned wind energ y. In addi- ally building per mit) and then sold (as a met with enthusiasm by municipal author- tional t enders announc ed in A pril 2010, whole or c ertain part) to a f inal investor ities - until r ecently - because of the ex - Ministry of Economy (the institution cur- (usually to a larger developer). T hus, dur- pected financi al c ontributions t o local rently responsible for action 9.4) allocated ing the last f ew years market of tr ading budgets. Legal regulations have created an for RES only 195 million PLN. projects has been active. opportunity to impose on the owner of the The future of the wind power sect or in The concentration of wind farm concepts wind farm a property tax of 2% of the in- Poland after 2010 will depend mainly on in some geographical areas is resulting in vestment value, which would be very signif- final decisions about the means of imple- growth problems, blocking further develop- icant income to a local municipality budget. menting the EU Climate Package, including ment of man y (even well-pr epared) proj- After interpretations of the Ministry of Fi- new directive 2009/28/EC about the pr o- ects. I t concerns mainly the lack of g rid nance, which limit the basis of the property motion of the use of r enewable energ y connection possibilities. In man y ar eas, tax t o the f oundation and t ower of the sources (http://eur-lex.europa.eu/LexUriS- particularly in northern Poland, all the con- wind turbines, local authorities’ skepticism erv/LexUriServ.do?uri=OJ:L:2009:140:001 nection capacity is cur rently blocked by a and r esistance t o wind energ y pr ojects 6:0062:EN:PDF). Especially important will large amount of wind farms which have al- seems to be growing. Cr itics are arguing be preparation (by Ministr y of Economy) ready received grid connection terms. This that wind energ y has negative impacts on of the National Renewable Energy Action situation will likely change, because of the on the landscape and pot entially hur ts by 2020, required by the dir ective and in- recent amendments to the Energy Law, en- tourism income. cluding the range of commitments for elec- tering into force at the beginning of March, Many wind project owners have delayed tric power pr omotion fr om r enewable 2010. It mandates advance payments (up construction until the star t of financing sources. Initi al analyses in that ar ea are to 3 million PLN, 30 PLN per MW) for con- from subsidies of the EU’s Operational Pro- covered by the document “P olish Energ y nection charges, which must be paid before gramme Infrastructure and En vironment Policy until 2030” (PEP2030) and seem to 2010 Business Directory Wind Power in Poland

Tab.1 Wind energy potential in Poland, estimated by IEO require substantial involvement of the gov- ernment (especi ally in pr eparation of

Onshore Offshore power grid development programme), Capacity Energy Capacity Energy Also to be mentioned is the substanti al (GW) (TWh) (GW) (TWh) potential of offshor e wind energ y. T his Theoretical potential 3100 6830 130 380 area of wind power development is one of Technical potential 1400 3600 130 380 the priorities in man y EU c ountries. Sev- eral companies have announced to build Technical Potential reduced by environmental limitations 600 1500 20 60 offshore wind far ms on the P olish Baltic Economic potential 82 210 7,5 22,5 Sea (e.g. PGE announc ed in 2008). H ow- Market potential 2020 11,5 28 1,5 4,5 ever, experiences of other countries demon- strate that the development and investment process is significantly longer than onshore. Also current legal conditions in Poland concerning offshore areas are not be moderate in the aspect of wind energ y. ergy (IEO) for Polish Wind Energy Associa- adapted to the needs of wind energy invest- PEP2030 expects achievement of 15% en- tion, the installed capacity of wind power ments. One of the most impor tant initia- ergy fr om R ES in t otal use of energ y in plants could reach even up t o 13 GW, in- tives in 2009 in that ar ea was 2020. The share of green electric energy in cluding 1,5 GW offshore and 0,6 GW power establishment of consortium - Polish Off- total gross use of electric energy is meant plants installed for individual use. Such ca- shore Network, which prepared the concept to be 19,6%, including wind energy of 9,8% pacity would allow t o produce 33 TWh of of building a power grid, providing connec- (with installed capacity 6,87 GW ). Consid- electricity in 2020 and c over 16,5% of Pol- tion of offshore wind farms in Baltic area. ering the high potential of wind energ y in ish electricity consumption by wind energy. According t o analyses made in the O ff- Poland, the scenario should be treated as (see Fig. 3) shoreGrid project, 500 MW offshor e wind moderate. According to “Vision of wind en- The sc enario is ver y ambitious , but farms can be c onstructed in Poland until ergy development in P oland”, the r eport Poland has big pot ential of wind energ y, 2020, and total power capacity could reach prepared by the Institute for Renewable En- which makes it possible. However, it would up to 5.300 MW in 2030. n

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Cooperation with national and RES market and industry Research and development local governments Monitoring of renewable Research on forecasting of wind Advisory and preparation of energy market in Poland farms productivity, offshore wind strategic studies and assessments energy development and Wind energy and biogas (among others: regarding renewable infrastructure planning (including databases of projects, investors energy industry for the Ministry of projects co-financed by the EU RTD and developers Environment and RES technical Programmes) potential for up to 2020 for the Various analysis, market Cooperation with SME in the field Ministry of Economy) reports, forecasts of of innovation implementation development and companies Preparation of regional and local strategies Preparation of proposals to RTD strategies and plans of RES Programmes for RES projects development, assistance in creation Technical advisory for of energy agencies on regional and investors and developers Development of technology and local level software for solar and biogas energy Technical due diligence of Investment advisory for local wind projects, cooperation with governments developers in implementation of projects Monitoring of investment attractiveness of Polish regions. Preparation of feasibility studies and applications to financial institutions Institute for Renewable Energy is an independent, non-public think tank and consultancy company. Since 2001, IEO is monitoring the development of Polish www.ieo.pl renewable energy market. IEO also provides targeted services regarding wind Contact: and solar energy, as well as biogas utilization. EC BREC IEO Sp. z o.o. ul. Mokotowska 4/6 The company was established in 2001 by the group of experts from EC Baltic 00-641 Warszawa Renewable Energy Centre (Polish RES agency). Its president and the main phone/fax (+4822) 8254652 [email protected] shareholder is Mr. Grzegorz Wi niewski. Wind Power in Poland Business Directory 2010

64 60 61 63 68 10 5759 5354 62 51 56 58 55 65 38 39 4445 49 66 47 50 40 51 67 42 4346 43 37 41 35 36 70 34 31 32 72 33 30 26 28 29

27 25 23 21 24 75 20 22 19 13 74 17 73 16 12 15

Wind Farms in Poland Wind Farms 13 14 11

8 10

8 9 69

71 7 5 6 4 3 2 1

1. Wróblik Szlachecki 320 kW (Energetyka 22. Górzyca – under construction (Starke 38. Gołdap 69 MW – under constr uction 57. Starbienino 250 kW Wiatrowa “Galicja”) Wind Polska) 39. Wiżajny 600 kW (Ekowiatr i Pędziwiatr) 58. Darżyno 6 MW (3E/Nowa Energia) 2. Sieniawa 600 kW (bd) 23. Kwilcz 160 kW 40. Suwałki 41,4 MW (RWE) 59. Lisewo 10,8 MW (Grupa Eurowind) 3. Łęki Dukielskie 10 MW (Mar tifer) 24. Rzepin – under construction (Starke 41. Nowogard 225 kW (EPA) 60. Łebcz II 10 MW 4. Pielgrzymka 150 kW (bd) Wind Polska) 42. Zagórze 30 MW (Vattenfall) 61. Łebcz 8 MW (EWG Wind Energy) 5. Żurawica 12 MW (EW Galicja) 25. Golice 38 MW – under constr uction 43. Jagniątkowo 30,6 MW (EPA) 62. Swarzewo 1,2 MW 6. Rytro 160 kW (bd) (Starke Wind Polska) 44. Śniatowo 32 MW (Power4all) 63. Puck 22 MW (PEP) 7. Zawoja 160 kW (bd) 26. Rydwanki/Margonin 120 MW – under 45. Skrobotowo 26 MW – under 64. Połczyno 1,6 MW 8. Sosnowiec 160 kW (bd) construction (EDP/Neolica) construction 65. Bogatka 850 kW 9. Mielec 250 kW (Ventureal) 27. Dobrzyń 34 MW (Vortex) 46. Karnice 30 MW – under constr uction 66. Sztum 14,5 MW (Iberdrola) 10. Chwałowice 300 kW (bd) 28. Wrocki 160 kW (Polish National (EPA) 67. Malbork 18 MW (Iberdrola) 11. Kamieńsk 30 MW (PGE) Enivironmental NFOS Foundation and 47. Karcino 76,5 MW (Dong) 68. Łosino 48 MW (Mitsui, J.Power) 12. Rembertów 250 kW EKOFundusz Foundation) 48. Pobłocie Małe 13,5 MW 69. Hnatkowice-Orzechowce 12 MW 13. Chwałowice 300 kW 29. Słup 160 kW 49. Tymień 50 MW (EEZ) (Iberdrola) 14. Słup 160 kW (bd) 30. Farma Krzęcin 6 MW (Renergsys) 50. Karścino 69 MW (Iberdrola) 70. Wałcz 4,5 MW (RP Global) 15. Wysocko 2,4 MW (bd) 31. Dąbrowa 200 kW (bd) 51. Tychowo 50 MW (RP Global) 71. Dukla 10 MW (Martifer) 16. Drogosław 0,8 MW (bd) 32. Barzkowice 0,16 MW 52. Cisowo 18 MW (EnergiaEco) 72. Margonin 22 MW (EDP) 17. Kramsk 750 kW (bd) 33. Wałcz 4,5 MW bd 53. Barzowice 5 MW (Agro & E koplan) 73. Pępowo 7.5 MW (Domrel) 18. Sosnowiec 160 kW 34. Ostrowo 30 MW (Dong) 54. Nosalin 1,6 MW – under constr uction 74. Piaski 5 MW (Domrel) 19. Sokoły 600 kW 35. Kisielice 40,5 MW (Iberdrola) 55. Zajączkowo i Widzino 90 MW (Mitsui/ J- 75. Morownica 5 MW (Domrel) 20. Zagorzyce 750 kW 36. Wizjany 600 kW Power) 21. Kłonowo 450 kW 37. Piecki 32 MW – under constr uction 56. Zwarcienko 320 kW Source PSEW, IEO 2010 Business Directory Wind Power in Poland

application for support must include, among Financing options for other things, a feasibility study and technical terms and c onditions of c onnection t o the power grid issued by a r elevant transmission wind projects in Poland or distribution system operator. An important supplement to grants is the support syst em organised by the N ational Until recently, investment in energy generation, including Fund for Environmental Protection and Water from renewable sources, has been almost exclusively the Management. It involves awarding of preferen- domain of strategic, sector investors tial loans to finance investments in renewable sources of energ y and c o-generation. In the case of this pr ogramme, two independent op- tions (national and regional) are also available. Wojciech Sztuba The national programme applies t o projects But now in vestment funds and bank s ar e with a value of minimum PLN 10 million and playing an increasingly significant role in fi- it is assumed that total installed capacity of the nancing large pr ojects in r enewables, espe- wind power plant that uses the loan cannot ex- cially in the wind energy sector. ceed 10 MW. The amount of the loan vailablea The amount of capital vailablea for the Pol- ranges from PLN 4 to 50 million but not more ish r enewable energ y sect or is g rowing than 75% of the project’s eligible costs. If spe- quickly, driven by a c ombination of factors, It is wor th r emembering that ther e is a cific onditionsc are met, an entity may apply including rebounding stock markets, recov- third, still available, form of project financing for partial cancellation of the loan up t o 50%. ery in the banking sector world-wide, strong which is offered by public aid instruments. Aid Announcement of the upcoming procedure for interest in P oland as an in vestment st ory, for renewable energ y sources is a r elatively filing applications is scheduled by the ationalN and substantial renewable energy subsidies new priority of the European Union. Until re- Fund for Environmental Protection and Water coming from the European Union. cently, most public funds a vailable in Poland Management f or June 2010. Re gional pr o- The ISE Global Wind Energy Index – down were earmarked for investments creating new grammes ar e implement ed by the Re gional 43% since peaks in 2007 – has r ebounded jobs and equalizing r egional competitiveness Funds f or En vironmental Pr otection and during the last y ear, and is up 20% over the within the EU. Given such objectives, wind en- Water Management. The value of investment last 12 months. ergy pr ojects, which do not r equire lots of projects suppor ted by the r egional pr o- In addition, public suppor t programmes labor, did not get much suppor t but this has grammes must range from PLN 1 to 10 million. 9 made available for investments in en viron- changed with the emphasis on climate protec- Wind energ y in vestments ar e gather ing ment-friendly sour ces of energ y ha ve in- tion. Moreover, after 2013, that is aft er the momentum in Poland. Although public funds creased recently. As a result, financing wind currently implement ed (in the y ears 2007- that can be obtained for larger wind projects farms has become attractive for banks, open 2013) aid pr ogramme pool is c ompleted, it until 2013 are being spent ver y quickly, at- investment funds and venture capital funds. may be assumed that energ y projects, espe- tractive models of project financing with the Wind farms, once operational, have financial cially renewable sources of energ y, will c on- use of public funds such as preferential loans characteristics that appeal t o long-term in- tinue to enjoy significant public aid. can still be developed. However, undoubtedly vestors and banks. At present, Poland has a f ew options of time is of the essence here and investors that Non-sector investors are now willing t o using EU funds when implementing wind already meet the formal criteria and are ready incur additional economic risks arising from projects. National subsidy programmes (Op- to start the application pr ocedure in a fast taking over uncompleted projects at various erational Programme “Infrastructure and En- manner will benefit from that. implementation phases. vironment”, Measure 9.4.) as well as regional As far as wind farms are concerned, a basic programmes implemented particularly in the The author is the Managing Partner and the source of d ata is the wind assessment per - Zachodniopomorskie, P omorskie, Ma- Head of Energy & Utilities section at TPA formed with the involvement of standardised zowieckie and Wielkopolskie Provinces play Horwath. [email protected]. methods. In order to obtain a bank loan and a fundamental role here. Please note, how- in practice also often when looking for an in- ever, that at present, the last planned proce- vestor, it is a standard requirement now that dure for filing applications ot receive support an entity must present a projected volume of as part of the af orementioned national pro- megawatt-hours of electricity to be produced, gramme is pending. After that procedure is Banks active in Wind farm on the basis of at least one year’s wind assess- completed which is scheduled f or 31 Ma y financing in Poland: ment. Data collected throughout three con- 2010, no subsidies ar e likely to be available n Bank Ochrony Srodowisko (BOS) secutive y ears ar e deemed t o be hig hly for wind projects until 2013. n European Bank for Reconstruction and reliable; however , f or pr actical r easons, According to Measure 9.4., investment proj- Development arrangements made on the basis of one year’s ects with a value of minimum PLN 20 million n European Investment Bank assessment t ogether with hist orical d ata can apply for a subsidy and support cannot ex- n Bank Zachodni WBK from wind atlases are generally accepted. ceed from 30% to 70% of qualified investment n ING Bank Slaski Given the limited lending activity of Polish expenditures (depending on the pr oject loca- n Raiffeisen Bank and foreign banks resulting partially from the tion and size of the applicant), and in total, it n Pekao Bank global economic crisis, equity involvement, in cannot ex ceed PLN 40 million. In or der t o principle, must not be lower than 20-30%. meet the minimum formal requirements, the Wind Power in Poland Business Directory 2010 New legislation triggers changes

There are probably no statistics available The down-payment is not the only change for the n umber of in vestors in the wind – the investor must also now enclose with the farm sector who have experience with the request an excerpt and a sket ch of the local pre-payment me chanism of “bonde d zoning plan (if such a zoning plan exists f or warehouses”. With the Mar ch amend- a given site) or decision r egarding planning ments to the Energ y Law, however, wind permission (if there is no zoning plan) allow- farm investors – and par ticularly specula- ing the wind far m to be located on a g iven tors who have had free access to grid con- site. While the decision is made at the request nections – will no w have to “pay to play”, of an individual investor, it is in the gener al and will no lon ger be ab le to keep their public domain. Opportunistic “use” of a suc- free option on grid access. cessful request for amendment of the zoning plan filed by a ompetitorc will therefore be- A key change to the Energ y Law is that c on- come possible. nection applications t o the electr icity grid will now require a down-payment, payable at “Grandfather” clauses and pre- the moment the r equest is made. The eef is existing rights 30 zlotys per kV of connection capacity (lim- Prior to the acquisition of a wind farm project ited to the lesser of : 3 million pln or actual at an early sta ge – be fore the c onstruction connection costs). permit is obtained and the pr overbial spade The change is meant ot address criticism slices into the ground – a painstaking due dili- that legitimate, well-capitalized industry in- gence is carried out, including examination vestors ha ve been unable t o get ac cess t o of the grid connection conditions. Since the Poland’s electricity grid, since earlier appli- March amendments are now in force, more cants (in some cases without the financial re- attention should be paid t o the connections sources or industr y experience to develop a conditions d ate than was pr eviously war - 10 wind farm) had been granted grid access for ranted. free and without demonstrating the intent or Here’s how it works: those investors that Dr Eligiusz Krześniak, Partner ability to put power into the grid. obtained the connection conditions prior to Squire Sanders Święcicki Krześniak sp.k 11 March 2010 and for whom the period of validity of the c onnection conditions ends after 11 September 2010 have the obligation Consolidation and “Musical Chairs” Recent Legal changes to make the down-payment by 9 May 2010. – the music just stopped Amendment to Energy Law (in force as of If the y fail t o c omply with these r equire- The purpose of the amendments is to bring 11 March 2010) particularly affects: ments the connection conditions expire. In order to the market, to speed up the proce- a) Grid connection conditions a second scenario, if an in vestor obtained dure for issuing grid conditions – which re- a. Fees for grid connection applications the connection conditions far enough back cently has be gun to look mor e and mor e = 30 pln per KW applied capacity in time that they expire prior to 11 Septem- like a crawl – and eliminate from the game b. 9 September 2010 deadline for pay- ber 2010, he does not have to do anything – small businesses that do not ha ve the ap- ments - applicable to those who hold their conditions will continue to be valid de- propriate financial resources and are hoard- valid grid connection conditions ex- spite the lack of down-pa yment – but of ing connection conditions for short-term piring after this date course only until the validity period ends. In- profit. c. Fees capped at 3 million pln or actual vestors of this type should ther efore hurry Also the intr oduction of a financi al connection costs - the lower of. with the sig ning of the c onnection agree- threshold should free up grid connections, d. Requires new documentation - local ment. For example, I once negotiated a con- consequently leading to an increase in the zoning plan or zoning decision - to be nection agreement for a client for almost a number of wind farms feeding power into attached to application year after the technical conditions for con- the grid. There is a certain paradox that in e. Grid connection issuing authority nection had expired. Well, this will no longer a country in which the number of ma jor must issue decision within 150 days be possible. wind farms actually operating is close to a f. Grid utility must publish full data on A third scenario is investors who managed single digit, the number of issued grid con- existing and pending grid applications to file the equestr for connection conditions nection c onditions f or futur e “ virtual” b) New financial support system impacts before the amendments came int o force but wind far ms has r eached almost 20,000 existing green certificates system have not yet obtained them. They now have MW. a. Entities trading with end customers the obligation t o make the down-pa yment It is difficult t o assess the ex tent t o must purchase green or brown cer- but also to provide an excerpt from the local which these objectives will be realized. We tificates, and present to the regulator; zoning plan or planning per mission. T ime will certainly see an impr ovement in the or pay substitution fee limit? No later than the beginning of Septem- time needed for the procedure of issuance ber this year. of conditions. I am sc eptical however of 2010 Business Directory Wind Power in Poland for wind energy developers

the declaration of restrictive compliance come too late. The amount of c onnection Further amendments to legislation with the obligation t o issue c onnection conditions issued earlier, of which a signif- The issue of what may await us is an issue conditions within the statutory time limit icant portion will definitely survive, means that cannot go without mention. The olishP of 150 d ays from the d ay the r equest is that it may continue to be difficult t o ob- parliament is currently reviewing the bill on filed. While there are some penalties in the tain entirely new conditions. renewable energy resources and their rational Energy Act to electric utilities that delay And what about the implications f or application. Regardless of the att empt to in- the process, the reality is sometimes differ- speculation in grid connection conditions, troduce the rather bizarre principle that re- ent. In practice, we have seen that admin- which has long been the dr awback of the newable energy resources are “the property istrative authorities have sufficient legal Polish market? The level of interest in trad- of the nation entr usted for management to means to prolong the handling of even the ing will de finitely fall – but not str aight- the municipality” and the overkill of promo- simplest cases nearly as long as they wish. away. T he c oming months will see a tion of geother mal energ y, the bill would I am not saying that this will be the case in considerable increase in turnover of proj- probably have a positive e ffect on the wind this instance, but a certain amount of cau- ects in the pr imary stages of implementa- energy market, if it is t o be passed. But is is tion is advised with respect to time limits tion. This is because it is obvious that all of in an early stage of parliamentary works and laid down in the law. those investors who have already received the government made is clear recently that it The latest amendment will also certainly the connection conditions and do not have is not happy with it. So the chances of it being eliminate a large group of business entities the cash to make the down-payment will do passed as is are not high. from the market who are often more inter- all they can to avoid losing the c onditions ested in merely selling grid access than de- received. For many such small businesses , Dr Eligiusz Krześniak, Partner veloping wind far ms. T he question is the sale of a project may be the only practi- Squire Sanders Święcicki Krześniak sp.k. whether the amendment intr oduced has cal financial option. www.ssd.com

Taiga Mistral fund has secured 130 MW wind farm projects, seeking to buy additional 70 MW wind farm projects 11

Taiga M istral, the Spanish private equit y fund, operating on the P olish wind ener gy market since 2008, is finishing its major stage of in vestments in wind farms thr ough the purchase of three major projects totaling 130 MW of power. Taiga Mistral plans to reach the target of 200 MW b y 2011 with the planned investment of circa 300 million euros.

Taiga Mistral has nearly completed its first, key stage of wind farm pr ojects, with the ac quisi- tion of 130 MW of po wer pr ojects in nor th Poland in 2009. The first projects will start to be built at the end of 2010, or beginning of 2011. The medium-t erm strat egy of the fund in Poland is to build a por tfolio of 200 MW wind power, supported by investments exceeding euro 300 million eur os. This would represent approximately 20% of the t otal wind po wer Mikel Garay, Managing Director of Taiga in Poland. which has been alr eady installed in P oland (about 700 MW total). The investments will be financed from both “We see very positive feedback from Polish and “We are now looking for local experienced the fund’s own capital and bank financing. The foreign banks, which have expressed strong inter- developers interested in selling us their well- fund’s financing is secure, backed up b y strong est in financing our olishP wind farms” - says Mikel prepared and matur e wind farm pr ojects. Spanish firms, such as Banc o Santander, C aja Garay, Managing Director of Taiga in Poland. These new 70 MWs will close our fund ’s tar- Navarra, Caja Avila and Spanish individuals. Taiga The fund is look ing to acquire additional get. We are only interested in projects with Mistral is also look ing towards additional EU fi- 70 MW Wind Farm investment opportunities permissions obtained ”, emphasiz es M ikel nancing support for their projects in Poland. in Poland. Garay. n Wind Power in Poland Business Directory 2010 Wind Energy Developers in Poland

Acciona Energy Poland Sp. z o.o. Avallon Ltd. Baltic Wind sp. z o.o.

Top Management team in Poland Subsidiary firms specializing in wind energy Subsidiary firms specializing in wind energy Andrzej Konarowski – Head of Acciona Energy Elektrownie Wiatrowe Zachód Ltd. Eko Park I sp. z o.o. , Eko Park II sp. z o.o. , Eko Poland Sp. zo.o. Park III sp. z o.o. , Sagittarius Solutions sp. z o.o. Top Management team in Poland Contact details Rafał Augustyniak – President; Radosław Pisko- Top Management team in Poland Sienna 86/7, Warsaw (Poland) rski – Board Member Zbigniew Modecki, Prezes; Christopher Gu- tel. 48 22 40 38 195 zowski; Michal Polanowski Contact details Ownership: ul. Rubież 46 bud. C5/111 , Contact details Acciona Energia SA (Spanish company) 61-612 Poznań (Poland) Nowolipki 4/19, 00-153, Warsaw (Polska) tel. 48 61 62 26 930 tel. 48602251605 Profile of the ompany:c Acciona Energía S.A. generates electric power Ownership: Ownership: from renewable sources. The company also de- Rafał Augustyniak, Radosław Piskorski The company is privately owned by manage- signs ment. and manufactures wind turbines; installs Profile of the ompany:c photovoltaic and thermal solar energy systems; Avallon sp. z o.o. deals with complex services re- Profile of the ompany:c and develops and constructs windparks. lated to wind power development. While complet- Baltic Wind is an independent wind farm devel- The company was founded in 1989 and is ing the investment we ensure: preliminary analysis oper which has specialised in the comprehensive based in Sarriguren, Spain. The firm is a world of the project, gain the proper location, determina- planning and preparation of Wind Park projects leader in renewable energies with almost 5,500 tion of the wind or location potential, technical in Poland since 2007. Baltic Wind develops pro- MW in service and a strong presence in eight planning, spatial planning, design-administration prietary projects, develops projects on behalf of 12 technologies. It has installed almost 5,300 works, building-assembly and power works (foun- and together with foreign and local investors MW of wind power capacity in 192 wind parks dation, roads, energetical connections). and advises firms which are looking to invest in in 12 countries, of which 3,824 MW are owned Wind Energy. by the company. It also has assets in the field Strategy for wind development in Poland of co-generation and wind turbine manufacture. Activities for the preparation and implementa- Strategy for wind development in Poland tion of several large wind projects in Poland. Ac- Baltic Wind will develop, build, own and operate Current and Planned Projects in Poland tivities to increase the number of developed individual projects in Poland which are less than Golice Wind Farm small-scale wind projects (up to 3 MW), espe- 15MW capacity. Baltic Wind will facilitate for cially realised by private investors or companies. our existing and new partners to build, own and operate projects larger than 15MW. Current and Planned Projects in Poland Currently, our company runs one large-scale, Current and Planned Projects in Poland advanced (50 MW) wind farm project and sev- The firm has close to 50MW in projects smaller eral greenfield projects demanding cooperation than 15MW under development and 300MW of with an investor and several smaller projects re- larger projects. The Ciechocinek Wind Park will lated to wind turbines with powers ranging from begin construction in 2010. 900 kW to 10 MW each. Advisory partners: Advisory partners: Nordex, Windhunter, Energa SA, PGE, Garrad Has- We put up the wind measurment masts, install san, DEWI, Accreo Taxand, Kancelaria Adwokacka the measurment equipment and cooperate with Lukasz Krzyzanowski; Tomasz Krzyzanowski, Elbud wind analysts. Depending on the type and scale Gdansk SA., Deloitte, Geoteko of the developed project, we use the services of companies specialized in issues related to envi- Notes ronmental protection and ornithological moni- www.balticwind.com , [email protected] toring. We also cooperate with the leading European suppliers of wind turbines. Agro & Ekoplan CEZ Polska Sp. z o.o. Notes Contact details We are able to deliver a full-range services in Contact details ul. Kołobrzeska 28, Białogard, wind investment process or any specific service 00-124, Rondo ONZ 1, Warsaw (Poland) tel. 094 3548617 chosen by investor. tel. 48 22 544 94 80 2010 Business Directory Wind Power in Poland Vestas sees huge opportunity in Poland

The Danes are not prone to use dramatic rapidly. So the number of 11,000 MW in Poland within the next 10 years is not difficult to imagine”. words, so when Klaus Bild, PSEW has estimated that the Polish market could gen - erate 25% of its energy needs by wind by 2020. Vestas Northern Europe, Several factors drive development of wind capacity in dif- says he sees “huge opportunities” ferent countries, said Bild. “The first is a permitting process that is transparent and predictable. The second in Poland, one should pay attention. is modern grid connections.” He suggested that Poland needs to make faster impr ovements on these two key factors. But the third key factor – feed-in tariffs – are fa- vorable. “Poland has one of the most attractive feed-in tariffs in Europe”, he said. The Danish wind turbine manufacturer is by far the mar- ket leader in Poland, with a 29% market share, according Vestas’s Polish operations are based in Szczecin, where to IEO research. Bild says Poland is a “rapidly gr owing the firm employs 60 people, mostly in sales and services. market”. With an estimated total mar- The actual turbines ar e imported to ket of 720 MW at year-end 2009, he Poland. Bild said that Vestas turbines expects capacity to “nearly double” are well-suited to the Polish market, in 2010. He also believes industry which is not a “high-wind” market, projections of growth to 11,000 MW but rather a “low-to-middle wind by 2020 are quite possible. area”.

Vestas has about 40,000 turbines Research into wind turbine technol- 13 operating in 63 countries around the ogy is significant at V estas, and the world. firm plans to bring a new V112-3 MW turbine to market in 2011, “which will In Poland, the firm has about 100 tur- be a blockbuster”, said Bild. Looking bines installed and str ong orders for into the future, Vestas could develop future installations. In January 2010, next-generation 5MW and 6MW tur- Vestas received an order for 48 tur - bines. bines of 2MW capacity from Prokon. Just 9 months ago, in June 2009, While the credit crunch certainly hin- Dong Energy announced a deal to dered wind development in 2009, buy 17 units of the V90 3MW wind capital markets have since r e- turbines, to be installed at Dong’ s bounded – which will help developers Karcino wind farm in northwest raise funds for this capital-intensive Poland near Szczecin. This is the third industry. “These days, financing is contract which Dong has signed with very important. Pr ojects must be Vestas in Poland. In early 2008, Ves- bankable”, said Bild. In the sales tas agreed to provide 33 turbines to process, Vestas generally requires a developer Vortex for their wind farms in Dobrzyn and down-payment, then subsequent payments are made in Wronki. installments, backed up a bank guaranty.

Vestas started in Poland in 2003, and wanted to be a International interest in Poland is growing, as recent news “first-mover” in the market. “We saw opportunities early of American gr oup AES entering the market confirms. on in Poland”, said Bild. “We look at the German market, “Poland will be a full EU member by 2012, and the polit- which has approximately 80 million people and 24,000 ical predictability and trust and certainty in the market has MW installed wind capacity, and we believe that Poland, increased”, said Bild. “We see vast and huge opportuni- with nearly half the population of Germany, can develop ties here”. Wind Power in Poland Business Directory 2010

Wind Energy Developers in Poland cont’d

Ownership: Poland. Since then it has expanded into other CEZ, a.s. European countries such as Bulgaria, Serbia and Croatia as well as Australia and New Profile of the ompany:c Zealand. The company’s primary focus is wind The long-term strategy of CEZ is to create a energy, one of the most rapidly developing strong central and south eastern European branches of the energy sector. CWP’s pipeline power company able to compete successfully in of projects currently totals more than 6,000 an open Europe-wide energy market. In Poland, MW of wind projects in different stages of de- CEZ Group operates through CEZ Polska and velopment and the company continues to ex- CEZ Trade based in Warsaw. The mission of pand through new partnerships with local the agencies is to support acquisition processes developers. Strategy for wind development in Poland and power trade in Poland. Activities of CWG are related to the implemen- CEZ Group is also an owner of majority shares Strategy for wind development in Poland tation of wind farms, as well as purchase of fin- in the upper Silesian power company Elektro- Since entering the Polish market in 2006, CWP ished projects and projects with licenses ciepłownia Chorzów “Elcho” Sp. z o. o. and has built a diversified portfolio of over 700MW. obtained. The main objective is to build and op- owner of 100% of shares in power plant Elek- Project sites have been carefully selected with a erate a portfolio of wind farms. trownia Skawina S. A. In 2009 a new subsidiary view to ensuring outstanding wind conditions, CEZ Nowa Skawina was created in order to community support and no significant intrusion Advisory partners: build new GT Unit of 430 MW. Start of its op- on environmentally sensitive areas. By end 2010 Von der Heyden Development Sp.z o.o. eration is planned for 2014. CWP expects to have obtained all necessary consents to start construction of a 160MW Strategy for wind development in Poland project. DOMREL Biuro Usług Inwestycyjnych CEZ Group is planning to build wind power sta- Sp. z o.o. tions and is considering buying wind farm proj- Current and Planned Projects in Poland ects at advanced stages. Development plans exceed 700MW in various Top Management team in Poland stages in central Poland and on the coast. Roman Kierys (managing director), Tadeusz 14 Notes Kierys, Jan Zysk In Romania, CEZ Group is building the largest Advisory partners: European wind power plant project – wind Good Energies Inc.; BBB Umwelttechnik GmbH; Contact details farms Fantanele and Cogealac with installed ca- Wind Prospect Odzieżowa 12c/1, Szczecin (Poland) pacity to reach 600 MW. tel. 48 91 812 21 08

Contino Wind Group Profile of the ompany:c Continental Wind Partners LLC The company was established in 2001 to de- (CWP) Subsidiary firms specializing in wind energy velop, construct and operate wind parks in Contino Polska Sp. z o.o., Contino Wind Part- Poland. We are specialized in different kinds of Subsidiary firms specializing in wind energy ners Sp. z o.o., Contino Białogard Sp. z o.o., investment advisory starting from identifying PS Wind Management Sp. z o.o. PSWM Contino Alfa Sp. z o.o., Contino Delta Sp. z o.o., proper locations, conducting wind measure- Wielkopolska Sp. z o.o. Contino Gamma Sp. z o.o. ments, executing all necessary studies (wind conditions analysis, environment impact study Top Management team in Poland Top Management team in Poland and grid connection evaluation) to obtaining Mark Crandall – Chairman Arnd Morschhäuser – Prezes Zarządu; Manage- wind park building permits. Mike Scholey – Chief Executive ment in Poland: Marcin Nawrocki, Michał Ma- Tracy Dziedzic – Corporate Finance ciesowicz Strategy for wind development in Poland We have 350 MW of advanced projects under Contact details Contact details development and we are aiming to expand our 17A Curzon Street, London, W1J 5HS (United ul. Mysia 5, Warszawa (Polska) portfolio. Kingdom) tel. 48 22 596 50 20 tel. 44 20 7409 5400 Advisory partners: Ownership: wpd Assets International GmbH Ownership: A number of private shareholders Continental Wind Partners is a privately held com- pany with shareholders comprising mainly individual Profile of the ompany:c E.On and institutional investors from the UK and US Contino Wind Group is an international wind farm developer, with experience in Spain es- Top Management team in Poland Profile of the ompany:c pecially, and is working internationally to de- CWP was established in 2007 to finance the velop wind farm projects (and “turn-key” Contact details development of wind farms in Romania and projects). Düsseldorf (Germany ) 2010 Business Directory Wind Power in Poland

Profile of the ompany:c ment of wind farms, supervision and manage- Contact details With just under EUR82 billion in sales and ment of commercial aspects of production and Al. Wojska Polskiego 154, Szczecin (Poland) roughly 88,000 employees, E.ON is one of the energy sale. tel. 48 91 425 29 00 world’s largest investor-owned power and gas companies. Current and Planned Projects in Poland Ownership: The firm is planning to build wind farms of total Private individuals Strategy for wind development in Poland value amounting to approx. 3,5 billion PLN. E.ON has about 74 GW of installed generating Profile of the ompany:c capacity, making it one of the world’s leading Notes EPA manages the full process of preparation and power producers. In Germany, the biggest www.ecowind.pl development of wind farms in Poland, from lo- sources of generation are nuclear and coal; in calization, wind analysis, organizing necessary the United Kingdom, coal and natural gas. E.ON permissions and approvals, and finally launching has committed to expanding renewables capac- Energa Invest wind farm projects. ity. In Scandinavia, hydro is their largest source of generation, followed by nuclear power. And Top Management team in Poland Strategy for wind development in Poland E.ON will soon be the United Kingdom’s leading Marcin Szpak – President of the Board The company’s portfolio includes projects with wind-farm operator. In 2008, created a new a total capacity of over 1GW market unit – Climate & Renewables – to man- Contact details age the renewables and carbon-sourcing busi- al. Grundwaldzka, Gdansk (Poland) nesses. Eurowind Services Sp. z o.o. Profile of the ompany:c Energa Invest SA (formerly Energa Trading Top Management team in Poland Eco-Wind Construction S.A. S.A.) is a company which carries out projects Bogusław Waliński – Prezes Zarządu, Krzysztof aimed at the construction of new power gen- Rutte – Vice President Top Management team in Poland eration sources. As an entity of ENERGA Piotr Beaupré – Prezes Zarządu, Board mem- Group, the company has been appointed as Contact details ber: Ewa Urbanowska, Krzysztof Dobosz the leader of ENERGA ProGaz. Following the Abrahama 1 A, Gdańsk (Poland) strategy applied by the group, Energa Invest is tel. 48 58 346 08 84 Contact details responsible for construction, by the end of Marynarska 11, Warszawa (Polska) 2015, of new power generation sources, with Ownership: tel. 48 22 444 08 81 a total capacity of at least 600 MWe, for the Rose Capital SA, Poseyix Investments LTD. 15 purposes of which natural gas will constitute Ownership: the primary fuel. Profile of the ompany:c Eco-Wind Group belongs to a number of enter- Wind Power Engineering prises managed by Neo Investments fund and it is a leading developer of wind farms in Poland. EnergoPartner Sp. z o.o. Strategy for wind development in Poland Neo Investments conducts an indirect owner in- As a pioneer on wind energy market, we cre- spection over the Group via a Luxembourg cor- Top Management team in Poland ated the competence team based on investment poration (Precordia S.a.r.l) and the laws of Marek Hensler – President of the Board optimization of renewable energy sources, max- Cyprus because of the necessity to optimalise imization of environment protection and pro- taxes. Contact details duction efficiency of projects. The portfolio of Warszawska 43, Poznań (Poland) projects in their early development stage, gives Profile of the ompany:c tel. 48 61 884 54 44 a possibility of common, long-term investments The company develops and builds and operates with minimal risk and high internal return rate. wind farms for its own account. Eco-Wind Ownership: Group comprises a lot of special-purpose com- ENEA S.A. Current and Planned Projects in Poland panies related by capital or personally. At the About 65 MW in Wielkopolska; about 290 MW end of 2008 the biggest portfolio of investment Profile of the ompany:c in Opolskie; 380 MW in Zachodniopomorskie; projects was concentrated in Eco-Wind Sp. z Company main profile activity is integrate the about 60 MW in Pomorskie; about 40 MW in o.o. On 31st December 2008 an in-kind contri- realisation of wind parks investment starting Warminsko-Mazury bution was made within the organized part of from identifying investment possibilities, through the business to Eco-Wind Construction S.A. – a realization experts reports and measurements company which was appointed to carry out mu- related to gaining permission investment and fi- Fersa tual investment undertakings with a strategic nally exploitation and monitoring of wind parks. partner. Contact details Travessera de Gràcia, 30, 5th floor , Barcelona Strategy for wind development in Poland EPA Spółka z o.o. (Spain) The scope of activity of Eco-Wind includes tel. 34 93 240 53 06 complex service of investments, which covers Top Management team in Poland among the others: land acquisition, planning- Jarosław Mroczek, Prezes Zarządu; Board mem- Profile of the ompany:c based stage. design stage, investment financing, bers: Tomasz Adamczyk, Jacek Roman, Fersa began its internationalisation process in starting and operating wind turbines, manage- Krzysztof Prasałek 2007 with the dual objective of reducing risk Wind Power in Poland Business Directory 2010

throughout the world, with the goal of becom- Wind Energy Developers in Poland cont’d ing over the next few years a significant player of the wind energy sector. In order to achieve this, Gestamp Eólica relies on the international plat- through increasing the geographical diversifica- Gamesa has installed over 18,000 MW of wind form and industrial capabilities of Grupo tion of its investments and launching projects in turbine capacity worldwide. Those turbines’ an- Gestamp as well as on a team of highly-qualified countries with strong growth potential and high nual output amounts 4 million tonnes of oil and experienced professionals. Currently, profitability.The Company currently has a total equivalent (toe) per year and avoids close to 27 Gestamp Eolica has a total of 360MWs of wind- installed capacity of 14 MW, of which 11.6 MW million tonnes of CO2 emissions per year. farms either under operation or under construc- is attributable and is located in France and Gamesa is also a world leader in the develop- tion in countries such Spain, Belgium, Brazil and Poland. ment, construction and sale of wind farms, hav- Turkey. ing installed over 3,600 MW, and it owns a Current and Planned Projects in Poland portfolio of 22,000 MW of wind farms at vary- Strategy for wind development in Poland Projects: Kisielice, Postolin, Warblewo, ing stages of development in Europe, America Within next 5 years, Gestamp Eolica Polska Ciepłowody. Near-term plans to develop two and Asia. plans to have around 300 MWs of wind-farms more farms of 40MW each. The company employs over 6,300 people under operation with the construction of the worldwide and has production facilities in Eu- first project to start at the begining of 2011. rope, the USA, China and India. Fusion Invest Polska S.A. Advisory partners: Gewind Sp. z o.o. Subsidiary firms specializing in wind energy Strategic partner, supplying major players in the JP Trading; Wind 27-JP Trading GbR wind industry Subsidiary firms specializing in wind energy Budziechow Sp. z. o o ; Grabik Sp. z. o o; Ro- Top Management team in Poland kiciny Sp. z. o o; Szadek Sp. z. o o Jarosław Pawluk, Prezes; Marek Nowakowski; GDF Suez/Elektrabel Maciej Lipowzcan Top Management team in Poland Contact details Paulo Albuquerque Contact details Zawada 26, Połaniec (Poland) ul. Stawki 2, Warsaw (Poland) tel. 48 15 865 65 65 Contact details tel. 48 22 549 32 00 ul. Poznanska 62/3, Poznan (Poland) 16 Profile of the ompany:c Ownership: One of the leading energy providers in the Ownership: Jarosław Pawluk world, GDF SUEZ is active across the entire en- Gesfinu, SGPS s.a. ergy value chain, in electricity and natural gas, Profile of the ompany:c upstream to downstream. The Group develops Profile of the ompany:c Investing in renewable energy projects, di- its businesses (energy, energy services and envi- 4 expert employees rectly or through partnerships. A consortium ronment) around a responsible-growth model (Wind 27-JP Trading GbR) was set up in De- to take up the great challenges: responding to cember 2009 by JP Trading and Global Wind energy needs, fighting against climate change and Power (Denmark) to develop a project in maximizing the use of resources. Denmark. Current and Planned Projects in Poland Notes Wind farm in Kołobrzeg Pawluk sold his firm CTL Logistics in early 2008 to private equity firm Bridgepoint for an esti- mated 1 billion pln. Pawluk is ranked as the # 6 Gestamp Eolica Polska Sp. z o.o. richest man in Poland, according to a recent Forbes 100 Richest list. Top Management team in Poland Gestamp Eolica CEE Development Director Jaime Poves Lopez, Gestamp Eolica Polska CEO Gamesa Wind Poland Sp. z o.o. Robert Trzaskowski

Contact details Contact details Spadachroniarzy 16, 80-298 Gdansk (Poland) Racławicka 130, 02-634 Warszawa (Poland) tel. 48602692792 tel. 48 22 646 02 11

Profile of the ompany:c Ownership: Gamesa is a company specialized in developing Corporacion Gestamp technologies and R & D for energy sustainability, mainly wind power. It is a leader in Spain and is Profile of the ompany:c positioned among the world’s wind turbine Gestamp Eólica was born with a mission to pro- manufacturers. mote, build and operate their own wind-farms 2010 Business Directory Wind Power in Poland

Strategy for wind development in Poland Grupa Partnerska 3E/Nowa Energia Acquisition of wind parks in an early develop- ment stage, development and financial study Subsidiary firms specializing in wind energy with wind measurements, before installing the 3E Sp. z o.o., Nowa Energia Sp. z o.o. wind turbines. Greenfield developments. Exper- tises with international consultants, monitored Top Management team in Poland by own personnel. Prezes Zarządu Jarosław Daniel Prondziński Dyrektor Generalny Marek Trepka Current and Planned Projects in Poland 5 wind parks of 6 MW and 1 wind park of 20 Contact details MW in development and prospecting for an- Balladyny 17, Gdynia (Poland) other 100 MW of potential wind sites. tel. Marek Trepka 48 664 480 493; e-mail [email protected] Advisory partners: Megajoule; Gesfinu, Millennium, others… Ownership: Jarosław Prondziński Contact details Global Wind Energy Poland Al. Jerozolimskie 81, Warsaw 02-001 (Poland) Profile of the ompany:c tel. 48 22 212 61 01 3E/Nowa Energy Group looks to partner with Subsidiary firms specializing in wind energy international firms entering the Polish market. KWE Ownership: 3E is now preparing wind farm projects, at dif- Green Bear has been established in January ferent stages of development. Most projects Top Management team in Poland 2007. It is registered in Luxembourg, while the have prepared local development plans, and Reuven Sharon, Henryk Sędzik Company’s operational headquarter is located some projects are more advanced in the prepa- in Warsaw. ration of construction stage. Contact details Wilcza 66/68, Warszawa / Warsaw (Polska / Profile of the ompany:c Strategy for wind development in Poland Poland) Green Bear’s shareholders are private investors Besides building wind farms with the firm’s capi- tel. 48 22 622 32 21 from various European countries (Luxembourg, tal and EU grants, 3E also does “Build-and-sell” Switzerland and France). projects. In 2010 3E plans to build about 30 Ownership: MW of small wind farms and one large one with 17 Global Wind Energy Strategy for wind development in Poland capacity of 34MW, which will be built in Po- Green Bear is a player in the renewable energy morskie province. We assume that in 2011 we Profile of the ompany:c market with a core business of acquiring, devel- will develop an additional 120MW of wind Professional development of greenfield wind oping & operating wind energy projects in farms. projects and its further operation. Poland. Current and Planned Projects in Poland Strategy for wind development in Poland Current and Planned Projects in Poland We are now own over 40 wind farm projects in Development of own portfolio of wind farm In September 2007 Green Bear completed the northern Polish voivodships: Pomorskie, Ku- projects and searching for acquisition opportuni- acquisition of its first operating wind farm in jawsko-Pomorskie, Warmia-Mazury and Ma- ties of the wind farm projects at advance stage Poland. zowsze. Projects can be divided into 3 groups: of development. small farms, from 4 to 12 MW, large, 34 to Advisory partners: 48MW, and very large – 120MW. Total portfo- Current and Planned Projects in Poland Green Bear also develops a portfolio of wind lio consists of projects rated at 1411MW. Development of wind farm projects up to farm projects with more than 500 MW of ca- 175MW together with “Konin” Lignite Open- pacity, currently at different development stages. Advisory partners: cast Mine as KWE company. The first stage of the most advanced project confidential (above 40 MW) is expected to get a final build- Advisory partners: ing permit early 2011. Cooperation with leading companies: legal, advi- Infusion Polska sory, turbine manufacturers and financial. Green Power Pomorska Top Management team in Poland Notes Miguel Peres Lisewo, with a capacity of 10.8 MW is managed Top Management team in Poland and operated by the Company. Jorg Bodo Wefelmeier Contact details Al. Solidarnosci 117, Warszawa (Poland) Contact details tel. 48 22 440 58 91 Green Bear Corporation Poland Szczecin (Poland) Sp. z o.o. Profile of the ompany:c Profile of the ompany:c Infusion is the company of Grupo Meneses fo- Top Management team in Poland Newly registered company, since March 2010. cused on the management and development of Jean-Claude Moustacakis; Lamia Mouton Undisclosed plans. energy projects. Its main activity is the produc- Wind Power in Poland Business Directory 2010

Wind Energy Developers in Poland cont’d KDE Energy Polska Top Management team in Poland Mr. J. Wolters (Managing Director KDE Energy BV tion of electricity from renewable resources, Current and Planned Projects in Poland and President of KDE Energy Polska Sp. z o.o.) and namely the construction of wind farms. Darłowo, Sławno – 80 MW start in 2010; Mr. F. Morsink (Country Manager Poland) Tymień – 50 MW started in 2006 Current and Planned Projects in Poland Contact details Wind farms in: Zachodniopomorskie – 108 Pl. S. Batorego 5/19, Szczecin (Poland) MW; Pomorskie – 52 MW; Warmińsko- J-POWER tel. 48 91 813 67 08 Mazurskie – 272 MW; Podlaskie – 66 MW; Ku- jawski-Pomorskie – 156 MW; Dolnośląskie – 74 Subsidiary firms specializing in wind energy Ownership: MW; Małopolskie – 144 MW; Podkarpackie – Zajaczkowo Windfarm Sp. z o. o. (“ZWS”) KDE Energy BV is owned by the Koop Holding, 54 MW also active in real estate development and piping Contact details for oil and gas. (Japan) International Wind Power Profile of the ompany:c Ownership: The Dutch parent company KDE Energy BV is Contact details partnership in Poland with Mitsui specialized in development and construction of (Austria) onshore wind farms in Europe. Development Profile of the ompany:c portfolio is around 2000MW. Future plans to Profile of the ompany:c Operates nationwide network of power trans- expand portfolio of operating wind farms in the Owned by Austrian utility BEWAG Group mission trunk lines in Japan. Since October countries where now active: the Netherlands, 2004, listed on the Tokyo Stock Exchange as the United Kingdom, France and Poland. In Nor- Strategy for wind development in Poland part of its final privatisation. way, developing small hydro projects. Projects in Bulgaria, Italy, Croatia, Poland, Romania, Slovakia, Greece, Czech Republic Current and Planned Projects in Poland and Hungary are currently being developed, 60MW wind farm development Komarowo in investigated and – if economically feasible – Goleniow near Szczecin. Three 6MW projects in also realized. International Wind Power fol- an advanced stage of develpoment in the 18 lows a policy of constructive collaboration in Northwest region of Poland. Several other proj- all projects. ects between 6 and 18 MW in more early stages of development. Current and Planned Projects in Poland Wind farms in northeast Poland: Sepopol, Iwon- Advisory partners: icz, Wydminy, Gorowo Clifford Chance for legal advice, Deutsche Wind Guard for wind measurements, most wind tur- bine suppliers like Vestas, Enercon, Siemens, Re- Invenergy power and Nordex, etc.

Subsidiary firms specializing in wind energy EEZ Sp. z o.o. Kulczyk Investments

Top Management team in Poland Top Management team in Poland Thomas Flanagan, Project Manager, Europe Dariusz Mioduski, CEO; Michał Michalski, In- vestment Director Contact details One South Wacker Drive, Suite 1900, Chicago Current and Planned Projects in Poland Contact details (U.S.) Zajaczkowo Windfarm Sp. z o. o. (“ZWS”), the ul. Krucza 24/26, Warsaw (Poland) tel. 312 224 1400; in Poland: 22 548 48 50 operating company which J-POWER (Electric tel. 22 522 3110 Power Development Co., Ltd.; President, Yoshi- Profile of the ompany:c hiko Nakagaki) established in Poland in partner- Ownership: Invenergy and its affiliated companies de- ship with Mitsui & Co., Ltd. (President & CEO, Jan Kulczyk velop, own and operate large-scale renew- Shoei Utsuda; “Mitsui”) and WFL Windfarmer able and other clean energy generation AG (President, Martin Neese; “WFL”) of Profile of the ompany:c facilities in North America and Europe. Inven- Switzerland, commenced commercial operation Kulczyk has deep experience in Poland’s energy ergy is commited to clean power alternatives of its Zajaczkowo wind power plant. J-POWER sector, especially in oil and gas, and has recently and continued innovation in electricity gener- and Mitsui each hold a 45% stake and WFL the announced intention to move into the wind sector. ation. Invenergy’s home office is located in remaining 10% in ZWS. The wind farm has a Chicago and it has regional development of- generating capacity of 48 MW (2 MW x 24 Notes fices throughout the United States and in units) and will sell all the power it generates to Jan Kulczyk is ranked as the richest man in Canada, Poland and Scotland. ENERGA OBROT S.A. Poland. 2010 Business Directory Wind Power in Poland

Neolica Polska Sp. z o.o. company was founded in 1993 and changed its Contact details name in 2008. ul. Wiertnicza 169 , Warszawa (Poland) Subsidiary firms specializing in wind energy tel. 48 22 840 75 70, 858 89 42 Relax Wind Park I; Relax Wind Park II; Relax Strategy for wind development in Poland Wind Park III; Relax Wind Park IV; Elektrownia In accordance with the investment policy (Pro- Ownership: Wiatrowa Kresy gram 1000 MW), the company carries out ad- Publicly-listed on the Warsaw Stock Exchange. vanced work in preparation for the construction Top Management team in Poland and purchase of more wind farms in areas of Profile of the ompany:c Board members are Radosław Nowak, Daniel voivodships: Podkarpackie, Wielkopolskie, Polish Energy Partners S.A. offers services for Dzaman, Krzysztof Urban Warmia – Mazury, Podlasie and Zachodniopor- the industry to reduce energy supply costs, and morskie. Planned projects are also an off-shore produces energy from renewable sources. Polish Contact details wind farm. Energy Partners S.A. effectively combines the Puławska 15, Warszawa (Polska) ability to develop energy projects with the tel. 48 22 331 01 88 Current and Planned Projects in Poland knowledge required to finance, construct, and Co-owner of wind park Kamieńsk – 30 MW. operate these projects. Over 5% of all renew- Ownership: This park consists of fifteen wind turbines of 2 able energy generated in Poland is produced in Nuevas Energias de Occidente S.L. MW each and is extended for another 18 MW. sources managed by PEP S.A. The plant is located on Mount Kamieńsk near Profile of the ompany:c Belchatow. This is the first such investment in Generation, transmission, distribution and trad- the PGE SA Capital Group. In 2009, firm bought Prokon ing of electric energy; preparation and projects Elektrownię Wiatrową Resko, a wind farm, related to core strategy which will be located in three municipalities in Contact details Zachodniopomorskie. The planned power plant Schleswig-Holstein (Germnay) Strategy for wind development in Poland is 90 MW. At the same time we are conducting To become the leader on the renewable energy preparatory work for several wind power plants Profile of the ompany:c market in Poland under the name “Cytisus”. In 2011 we will begin Prokon has been developing wind energy proj- construction work on the farms Wojciechowo ects over 15 years, and has 32 wind farms in Current and Planned Projects in Poland (28 MW) and Lotnisko (90 MW). Germany. Margonin Wind Farm (120MW) was connected to the electricity grid in March 2010; currently in Strategy for wind development in Poland start-up phase, scheduled to start operation at Polish Energy Partners In July 2009, Prokon announced plans to sign up 19 end of April 2010; Planned the launch of two Vestas for the 105-meter-high V90 wind tur- further projects – 2010. Top Management team in Poland bines for eight power plants it will erect in Zbigniew Prokopowicz – President; Anna Kwar- Poland. The total capacity of Prokon’s initial Advisory partners: cińska – Vice President; Michał Kozłowski – Vice venture into the Polish wind market will be 96 DLA Piper; Accreo; Chadbourne&Parke LLP; President MW. KPMG; Delloite; GES; Gamesa; Iberinco; SAG Elbud; ENEA Operator; PSE Operator; Energo- projekt Poznań; MDDP; PWC

PGE Energia Odnawialna S.A.

Top Management team in Poland Krzysztof Konaszewski – Prezes Zarządu

Contact details Ogrodowa 59 a, Warszawa (Polska) tel. 22 433 11 00

Ownership: PGE Polska Grupa Energetyczna S.A.

Profile of the ompany:c PGE Renewable Energy SA has long been a leader on the Polish market for renewable en- ergy sources. The company provides security system services to support the national elec- tricity system, and generates and supplies electricity to the highest quality, produced using environmentally friendly technologies, renewable sources of primary energy. The Wind Power in Poland Business Directory 2010

since 2005. Currently preparing RP Global wind Wind Energy Developers in Poland cont’d farm projects, which over the next five years will be implemented mainly in Pomerania.

Relight RP Global Poland Sp. z o.o. Current and Planned Projects in Poland Developed: Projekt Tychowo 50 MW, Projekt Subsidiary firms specializing in wind energy Subsidiary firms specializing in wind energy Wałcz 4,5 MW. Planned: 170 MW over the next Relight Megawatt Baltica Sp. zoo, Megawind Polska Sp. three years zoo, Wiatrowa Baltica Sp. zoo, Megawatt NW Top Management team in Poland Sp. zoo, Megawatt Polska Sp. zoo, Windpol Sp. Marcello Deplano, County Manager for Poland; zoo RWE Polska Gokhan Baykam, CEO; Alessandro Salerno, Head of Project Development. Top Management team in Poland Subsidiary firms specializing in wind energy Tomasz Zelek – Board member RWE Renewables Polska Contact details via Arco, 2, Milan (Italy) Contact details Top Management team in Poland tel. 39028824041 al. Wojska Polskiego 70, Szczecin (Polska) Filip Thon, Prezes RWE Polska tel. 48 91 432 25 80 Ownership: Contact details Relight Holding + Good Energies Ownership: ul. Wybrzeże Kościuszkowskie 41, Warszawa RP Poland Development S.L.U (Polska) Profile of the ompany:c tel. 48 22 821 31 11 Leading operator in the Italian renewable energy Profile of the ompany:c market, Relight is an international group that de- RP Global is a company with roots in Austria Ownership: velops and manages over 5000 MW assets, di- and Spain with 26-years experience in the field RWE AG rectly or through its subsidiaries. Relight Group of renewable energy. Engaged in hydropower plans and oversees the realization of medium- projects and wind, from the investment phase, Profile of the ompany:c large wind farms and PV plants taking direct ending with the finished project management. The biggest companies belonging to RWE are control over all phases of plant development, fi- Currently, RP Global has hydro and wind which RWE Polska – the company responsible for sup- nance, building and operation. are at various stages of development in many porting the development of the group in Poland, 20 countries around the world, including Austria, sells energy to approximately 900 customers Portugal, Spain, France, Croatia, Turkey and and thousands of companies; RWE Stoen Oper- Renovatio Group Chile. In Poland the company has been present ator, which manages Warsaw’s electric power

Subsidiary firms specializing in wind energy Renovatio Power Polska sp. Z o.o.

Top Management team in Poland Michael Moczkowski – Managing Director Reno- vatio Power Polska

Contact details Pl. Trzech Krzyzy 18, Warsaw (Poland) tel. Julia Stelmach: 48 508 008 361/ Tomasz Szumilas: 48 508 008 362

Ownership: Renovatio Group

Profile of the ompany:c Renewable energy developer, solar panel manu- facturer, energy trader and future wind and solar park operator.

Strategy for wind development in Poland Green field development and project acquisition in various stages of development.

Current and Planned Projects in Poland The company has achieved so far a pipeline of 100 MW and additional 400 MW are in prepa- ration for the next 3 years 2010 Business Directory Wind Power in Poland network; and RWE Renewables Polska, which by 2015 plans to develop 300 MW of wind farm projects in Mazury, Pomorze and Wielkopolska.

Strategy for wind development in Poland By 2015, the company plans to develop in Poland, 300 megawatts of wind energy, and thus become a significant investor in the industry.

Current and Planned Projects in Poland By 2015, the company plans to build in Poland 300 MW from wind energy. RWE already real- ized an investment in Suwalki, with a total capac- ity of 42 MW (18 wind turbines). The next stage of investment in wind energy is a wind farm in Tychow. Its completion is planned for 2010. RWE plans to install at this location 15 wind turbines with a capacity of 2.3 megawatts each.

Advisory partners: Biuro Inżynierskie “WINDTEL”; Windhunter Sevivon Sp. z o.o. The company cooperates with lawyers, design- S.C.; Autorskie Biuro Projektów M&G ers, planners, surveyors, authorities, environ- Top Management team in Poland mental protection and wind measurements Stefan Ebeling- Prezes Zarządu, Bogdan specialists, wind turbine manufactures and other Taiga Mistral Gutkowski – Wiceprezes Zarządu participants of the development and realization process. Top Management team in Poland Contact details Mikel Garay (Managing Director) Wojska Polskiego 24-26, Koszalin (Polska/ Poland) Starke Wind Polska Sp. z o.o. Contact details tel. 94 342 54 51 Camino de la Zarzuela, 1 – 1ª 21 Top Management team in Poland 28023 Aravaca – Madrid Ownership: Jan Starke – Prezes; Alicja Chilińska – Dyrektor; tel. +34 91 3576310; fax +34 91 3579941 WKN Windkraft Nord AG, Husum; AOS Sp. z Peter Buchta – Prokurent Camino de la Zarzuela, 1 – 1ª, 28023 Aravaca o.o. Sp. k., Koszalin Madrid (Spain) Contact details tel. 34 91 357 63 10 Profile of the ompany:c Kosynierów Gdyńskich 51, Gorzów Wlkp. (Pol- Sevivon is a developer of windfarm projects ska) Ownership: throughout Poland, especially in the West- tel. 48 95 737 06 66 Banco Santander, Caja Navarra, Caja Avila & pomeranian and Pomeranian voivodeship. The some particulars. company develops projects from “greenfield” Ownership: until the commencement of the energy produc- Jan Starke Profile of the ompany:c tion. Sevivon employs qualified project coordi- Private equity fund investing in wind energy in nators and cooperate with a team of designers, Profile of the ompany:c Poland. surveyors, planners, lawyers, environmental Preparation of the concept of wind farm proj- protection and wind measurements specialists, ects; selection of location; execution of all nec- Strategy for wind development in Poland wind turbine manufactures and other partici- essary studies and construction projects; Acquire local well-prepared and advanced wind pants of the development and realization Obtaining necessary permits; Select a strategic farm projects from third parties. Finalise the de- process. investor; Protection of investments; Supervising velopment, finance, construct, own and operate the implementation and operation of wind farm. the Wind Farms. Strategy for wind development in Poland Currently Sevivon develops projects with a total Current and Planned Projects in Poland Current and Planned Projects in Poland nominal power about 400MW. Till 2012 is Phase I: Starke Wind Rzepin, Starke Wind Two projects in financing process (42 MW + 26 planned to finalize the project development of Górzyca; Phase II: Starke Wind Goraj, Starke MW). Start of construction end 2010. Rest of 150MW. Till 2015 is planned to finalize and real- Wind Nowa Nied, Starke Wind Sława; Phase III: the projects under development. Total target: ize another projects of the nominal power Starke Wind Bogdaniec, Starke Wind Myszęcin, 200 MW to be constructed from 2011-13. 250MW. Starke Wind Stypułów, Starke Wind Szczaniec, Starke Wind Wschowa Advisory partners: Current and Planned Projects in Poland Tundra Advisory. In 2010 is planned to start the construction of a Advisory partners: 50MW windfarm in the of Westpommeranian Law firm Wardyńscy & Wspólnicy; Energopro- Notes voivodeship. jekt – Poznań SA; Energoprojekt – Kraków SA; Looking to acquire further 70 MW. Wind Power in Poland Business Directory 2010

Current and Planned Projects in Poland Wind Energy Developers in Poland cont’d Several projects at different development stage in focus

Vortex Energy Group

Subsidiary firms specializing in wind energy Vortex Polska

Top Management team in Poland Adam Pantkowski; Till Jeske; Claudio Papa, Au- gust Abing

Contact details Szczecin (Poland)

Current and Planned Projects in Poland Dobrzyn project – 17 turbines 2MW; Wronki – 16 turbines 3 MW

Wiatropol International Sp. z o.o.

Top Management team in Poland Kaj Larsen – President of the Management Board; Mark Fromholt – Management Board member

Contact details 22 ul. Jaśkowa Dolina 81, Gdańsk (Poland) tel. 48 58 661 22 60

Ownership: Greentech Energy Systems A/S, Denmark Tauron Polska Energia Top Management team in Poland Tadeusz S. Staszewski, Project Director, Wind Profile of the ompany:c Contact details Power Wiatropol Int. is an energy company developing, ul. Lwowska 23 , Katowice (Poland) constructing and operating wind energy projects. It tel. 32 774 27 04 Contact details has been present on the Polish market since 1997 Złota 59, Warszawa (Poland) and has a pipline of projects under development Profile of the ompany:c tel. 48 22 587 50 00 of approx. 300 MW. The company is owned by a Tauron operates in 17 % of the country. The Danish company Greentech Energy Systems A/S Group is the second largest electricity producer Ownership: that is listed on NASDAQ OMX Copenhagen A/S in Poland and the leader in sales of energy, both Vattenfall AB and has its activities – besides Poland – in Den- for corporate clients and individuals. Strategy: mark, Germany, Italy and Norway. As part of capacity expansion, Tauron group will Profile of the ompany:c develop production from renewable sources. development, construction and operation of on- Strategy for wind development in Poland Ultimately, this energy is to be about 3.5 shore-windfarms The company’s objective is to be an important TW/year. IPO on Warsaw Stock Exchange in player on the Polish market as a developer, construc- spring 2010. Strategy for wind development in Poland tor and operator of mid-sized wind energy projects. Today, Vattenfall generates 2,3 TWh of electric- Strategy for wind development in Poland ity from wind annually. By constructing eight Current and Planned Projects in Poland The strategy of the group is to generate 440 new windfarms in six countries with a total of Project in operation in Połczyno, several proj- MW in wind energy by 2020. 620 MW, Vattenfall will double the production ects under development in Pomorskie and Za- of electricity from wind by 2011. For executing chodniopomorskie Voivodships and in the its strategy “Making Electricity Clean” Vattenfall region of Southern Poland. Vattenfall plans continued enhancement of wind power within its generation portfolio. Therefore, Vat- Advisory partners: Subsidiary firms specializing in wind energy tenfall invests in wind power on all its markets, Bank BZ WBK, Nordea, Pricewaterhouse Coop- Vattenfall Poland sp. z o.o., Vattenfall Wolin- incuding Poland, which has high growth potential ers; Kancelaria Żelaznowski & Głowiński; DEWI; North sp. z o.o., in wind power. ABB, Siemens, Areva; IEN Gdańsk; Enercon, Vestas 2010 Business Directory Wind Power in Poland

Wind Energy News

American AES buys have a strong ownership position in wind wind developer 3E farms by the end of the decade, mostly AES Corp.’s wind-generation business agreed along Poland’s Baltic coast. to acquire Your Energy Ltd., effectively dou- April, 2010 bling its presence in the U.K., while also enter- ing the Polish market in a separate deal for a Poland to issue 2010 CO2 permits 51% stake in wind developer 3E . AES Wind in April Generation said the deals will add more than Poland plans to issue its 2010 pollution per - 700 megawatts – or enoug h to power about mits under the Eur opean Union’s scheme to 525,000 to 700,000 U.S. homes – of generat- its industry after a necessary approval from ing capacity to its European pipeline. The ac- Brussels. quisitions will r equire $400 million of AE S Most EU members allocat ed their permits equity over five ears,y of which $120 million to heavy industry in February with Italy and will be used f or c onstruction of 200 Poland — locked in a long-r unning dispute megawatts of capacity by the end of next year. with Brussels over the carbon quota — the Financial terms of the deals weren’t disclosed. only major economies in the 27-nation bloc to AES Wind brought three projects into com- have missed the deadline. mercial operation in Europe during the first But Warsaw moved closer to ending the row quarter, including projects in France, Scotland with the Eur opean Commission when it de- and Bulgaria. cided to seek new carbon dioxide emissions April, 2010 quota (NAP) of 208.5 million t onnes a y ear and much less than it pr eviously want ed. REpower supplies wind turbines to “Now the NA P is under c onsultations in Poland Poland, then it’ll be presented at the European REpower will deliver 15 wind turbines t o Committee of the Council of Ministers. I hope Poland to WSB Group. The 15 MM92 wind it’ll happen in early A pril,” Kraszewski said, turbines f or the Lipnik wind far m near adding the European Commission signaled it 23 Opole in south-west Poland have a power was ready for a fast-track approval. rating of 2.05 MW. Construction and com- Warsaw or iginally soug ht 285 million missioning of the 30.75 MW wind farm are tonnes of CO2 per mits, saying its expanding scheduled for this autumn. economy would suffer from less. But the eco- REpower C EO, P er H ornung P edersen, nomic cr isis has hamper ed energ y demand says: “We can see a lot of potential on the Pol- and economic growth, giving Brussels argu- ish market for wind power. The ountryc is ments to propose still fewer to Poland. home to many more prime wind locations.” Warsaw came under additional pressure to April, 2010 agree the quota recently as some of its compa- nies already sold their 2010 per mits despite European Investment Bank not having received them yet, Kraszewski said. considering USD 185m Polish wind Poland relies on hig hly-polluting coal for farm loan more than 90 percent of its energy needs, but The European Investment Bank says it is Kraszewski also said it would meet its target weighing up a EUR 137.5m loan f or a of producing 15 percent of electricity from re- 156MW onshore wind farm in the north of newable sources. Poland. Although not disclosed by the EIB, “We will have some 20-21 percent. We have the loan is being ne gotiated with EDP for now topped 1 gigawatt of energy from renew- the Margonin projects. able sources installed in P oland. I think by April, 2010 2020 wind energ y will account to around 10 percent of Polish energy mix, which will im- Polish energy giant Tauron aims to prove further when first nuclear shop for wind assets Warsaw is using money from its surplus car- With imminent plans for a large IPO on the bon emission rights under the Kyoto protocol Warsaw st ock ex change, T auron, one of (AAUs) to boost efficiency. It has sold AAUs Poland’s largest energy generators and dis- worth 70 million eur o to Ireland, Spain and tributors, has plans t o rapidly increase its Japan. “Soon we will be finalizing two more footprint in the renewables sector. Accord- deals. I expect it in April, though they will be ing to Ryszard Turek, director of its renew- worth less than the pr evious ones, a few mil- able energ y subsidiary, the firm plans t o lion euro together,” Kraszewski said. n